Mapping out Telkom’s ventures in the digital space

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Big corporations often have their fingers in many pies. I recall being pretty surprised when I first learned how many subsidiaries Singapore telecommunications firm Singtel has under its name. It owns businesses such as advertising platform Amobee, data analytics firm DataSpark, and Australian telco Optus – and that’s just the tip of the iceberg.

There’s a similar story over in Indonesia, with state-owned telecommunications company Telkom making like an octopus and spreading its tentacles out across different digital businesses. Through a mix of investments and its own ventures, the firm has built up a pretty impressive ecosystem.

Today we look at,

• The web of Telkom’s digital businesses
• What this fintech software-as-a-service firm is doing with its fresh funding
• Other newsy highlights such as Binance’s latest investments and Tencent’s metaverse plans

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Far and wide

Image credit: Timmy Loen

Indonesian telecommunications giant Telkom has got its tentacles spread out in the country’s digital space, and its ambitions in the sector are growing even bigger. By making strategic investments and developing its own businesses, its digital services are plenty. We take a closer look at what it has under its umbrella.

• Numerous and varied: Based on its financial statements, the company currently has over 30 subsidiaries – both directly or indirectly – across different verticals such as telecommunications, multimedia and content, and property.

• Powering startup growth: Telkom has also put its name behind several ventures that are driving Indonesia’s tech ecosystem, such as startup incubator and accelerator Indigo Creative Nation, as well as co-working spaces, such as Jogja Digital Valley.

• Notable investments: The firm has backed several tech startups in Indonesia. Telkomsel, a Telkom subsidiary, has invested in Gojek several times and was one of many telcos involved in the development of e-wallet LinkAja. Telkom’s venture capital arm, MDI Ventures, has also invested in companies such as Alodokter and Kredivo.

Read more: Visual: Telkom’s tentacles in the digital space

Startup spotlight

Clear as crystal

Figuring out taxes can be pretty challenging. That’s what India-based fintech software-as-a-service firm Clear helps to address. The company has just raised US$75 million in its series C funding round to enable it to grow even further, with firms like Stripe and Kora Capital among its backers.